Jefferies Raises Price Target on Marvell (MRVL) Following Q4 Results
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Price: $237.04 -5.57%
Rating Summary:
49 Buy, 12 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
49 Buy, 12 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Jefferies raised its price target on Buy-rated Marvell (NASDAQ: MRVL) from $18 to $19 following Q4 results.
The firm comments, "MRVL's JanQ report and AprQ outlook were materially in line with consensus. We think MRVL has three things working for it: 1) It's Cheap, 2) HDDs are recovering, and 3) It has a number of product cycles which could surprise to the upside, including SSDs and TD-cellphone chips shipping now, and Google TV chips in 2H12. Reiterate Buy."
The firm trims Q1 EPS from $0.25 to $0.20, FY from $1.40 to $1.22.
For an analyst ratings summary and ratings history on Marvell click here. For more ratings news on Marvell click here.
Shares of Marvell closed at $16.06 yesterday.
The firm comments, "MRVL's JanQ report and AprQ outlook were materially in line with consensus. We think MRVL has three things working for it: 1) It's Cheap, 2) HDDs are recovering, and 3) It has a number of product cycles which could surprise to the upside, including SSDs and TD-cellphone chips shipping now, and Google TV chips in 2H12. Reiterate Buy."
The firm trims Q1 EPS from $0.25 to $0.20, FY from $1.40 to $1.22.
For an analyst ratings summary and ratings history on Marvell click here. For more ratings news on Marvell click here.
Shares of Marvell closed at $16.06 yesterday.
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